Ford once again cuts Mustang Mach-E prices as the price war of EVs enters its second year. for model year 2023, the Mustang Mach-E is getting a significant price cut, as much as $8,000 off for some of its versions.
Ford Cuts Mustang Mach-E Prices
The Ford Mustang Mach-E has become more accessible to consumers with a significant price cut announced for the 2023 model year. This adjustment will make at least one version of the Mach-E available for less than $40,000, marking a notable milestone for Ford’s flagship electric vehicle.
The Mach-E has achieved success as the second bestselling electric SUV in the US in 2023, following a fierce price competition with Tesla. Despite Tesla’s dominant market share, Ford has managed to gain traction in the EV market, highlighting the increasing competition in this sector.
The Decision to Reduce EV Prices
The decision to reduce prices reflects the current EV market dynamics, where demand is softening, and customers are seeking affordability and reliability in charging infrastructure. Ford spokesperson Martin Gunsberg mentioned that the price adjustments aim to achieve the optimal balance between sales growth and customer value.
Details of Price Reductions
The premium trims with extended-range batteries, both rear-wheel and all-wheel drive, will see the largest discount of $8,100, making the Mach-E more attractive to potential buyers. Additionally, Ford is introducing new incentives for leased vehicles, including a $7,500 “Red Carpet Lease cash incentive” when leased through Ford Credit. This, coupled with the federal EV tax credit passed on to consumers, will result in lower monthly lease payments.
The Mustang Mach-E Is Eligible For the $7,500 EV Tax Credit
It’s important to note that while the Mustang Mach-E is eligible for the $7,500 EV tax credit when leased, it currently doesn’t qualify for customers looking to purchase or finance the vehicle due to its battery supply chain.
MORE RELATED POSTS
- Ford Is Under Investigation for a Mustang Mach-E Recall from Last Year
- Auto-Making Company Ford Reported To Double Its Annual F-150 Lightning Production
- Ford Set To Triple the Production Capacity of the All-electricity Mustang Mach E
- Google’s Pixel 8 and Pixel 8 Pro Are Currently Matching Their Best Prices to Date
- Starlink Cuts Off South African Customers
